BMO Capital Markets on Friday reiterated its outperform rating on the shares of Ivanhoe Mines (IVN.TO) while cutting its price target to C$21.00 from C$24.00 after the company restarted underground mining operations on the western side of its Kakula Mine in the Democratic Republic of Congo.
"Ivanhoe's restart of mining the west of Kakula is an important positive step for the mine after the May 18 stoppage due to seismic events. In our opinion, there will clearly be some impact on the pace of mining the highest grade mineralization in the medium to long terms. We have made adjustments to our mine plan expectations to match updated guidance and made some of our own additional placeholder assumptions - we reduce our target to $21 from $24," analyst Andrew Mikitchook wrote," analyst Andrew Mikitchook wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 9.90, Change: -0.09, Percent Change: -0.90
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。